107th CONGRESS
2d Session
H. R. 3812
To sunset the Bretton Woods Agreements Act.
IN THE HOUSE OF REPRESENTATIVES
February 27, 2002
Mr. PAUL introduced the following bill; which was referred to the Committee
on Financial Services
A BILL
To sunset the Bretton Woods Agreements Act.
Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled,
SECTION 1. SUNSET OF BRETTON WOODS AGREEMENTS ACT.
The Bretton Woods Agreements Act (22 U.S.C. 286) is hereby repealed 3 years
after the date of enactment of this Act.
SEC. 2. SETTLEMENT OF ACCOUNTS.
Not later than 3 years after the date of the enactment of this Act, the Secretary
of the Treasury shall withdraw the United States from the International Monetary
Fund, and shall negotiate an agreement on the method of settling accounts
with the International Monetary Fund.
SEC. 3. REPORT TO THE CONGRESS ON ALTERNATIVES.
On the date that is 2 years after the date of the enactment of this Act, the
Secretary of the Treasury shall submit to the Committee on Financial Services
of the House of Representatives and the Committee on Foreign Relations of
the Senate a report on alternative ways of addressing the problems that the
International Monetary Fund is designed to address, including reliance on
the operation of private capital markets, merging the International Monetary
Fund with the International Bank for Reconstruction and Development, and establishing
an institution to address such problems in a different manner than the International
Monetary Fund has addressed such problems.
END
